AGNC Investment Pref Share AGNC 6.5 Prep 10/15/24 E | 10-Q: FY2025 Q3 Revenue: USD 1.591 B

Revenue: As of FY2025 Q3, the actual value is USD 1.591 B.

EPS: As of FY2025 Q3, the actual value is USD 0.72.

EBIT: As of FY2025 Q3, the actual value is USD 658 M.

Agency RMBS: $76.3 billion as of September 30, 2025, up from $65.5 billion as of December 31, 2024.
TBA Securities: $13.8 billion as of September 30, 2025, up from $6.9 billion as of December 31, 2024.
CRT, Non-Agency RMBS, and CMBS: $0.6 billion as of September 30, 2025, down from $0.9 billion as of December 31, 2024.
Other Mortgage Credit Investments: $69 million as of September 30, 2025, up from $64 million as of December 31, 2024.

Net Income: $806 million for the three months ended September 30, 2025, compared to $346 million for the same period in 2024.
Comprehensive Income: $867 million for the three months ended September 30, 2025, compared to $546 million for the same period in 2024.
Net Income Available to Common Stockholders: $764 million for the three months ended September 30, 2025, compared to $313 million for the same period in 2024.
Net Income per Common Share - Basic: $0.73 for the three months ended September 30, 2025, compared to $0.39 for the same period in 2024.
Net Income per Common Share - Diluted: $0.72 for the three months ended September 30, 2025, compared to $0.39 for the same period in 2024.

Net Cash Provided by Operating Activities: $525 million for the nine months ended September 30, 2025, compared to $7 million for the same period in 2024.
Net Cash Used in Investing Activities: -$14,508 million for the nine months ended September 30, 2025, compared to -$16,095 million for the same period in 2024.
Net Cash Provided by Financing Activities: $14,123 million for the nine months ended September 30, 2025, compared to $16,103 million for the same period in 2024.

Weighted Average Coupon of Portfolio: 5.17% as of September 30, 2025, compared to 5.14% as of June 30, 2025.
Average Projected Life CPR: 8.6% as of September 30, 2025, compared to 7.8% as of June 30, 2025.
Actual CPRs: 8.3% for the quarter ended September 30, 2025, down from 8.7% in the second quarter.
Tangible ‘At Risk’ Leverage: 7.6x as of September 30, 2025, unchanged from the prior quarter.
Liquidity Position: $7.2 billion in unencumbered cash and Agency RMBS as of September 30, 2025, representing 66% of tangible equity.

Core Business Focus: AGNC plans to continue optimizing the composition of its asset base by rotating into pools with more favorable prepayment characteristics as market opportunities arise. The company expects lower funding costs resulting from the September rate cut and potential future rate cuts, together with the full deployment of recently raised equity capital and a shift in hedge mix toward a greater share of swap-based hedges, to benefit net spread and dollar roll income.
Non-Core Business: AGNC’s disciplined approach to asset selection and risk management positions it well to generate favorable risk-adjusted returns in an evolving investment environment. The company added $7 billion of receiver swaptions during the third quarter to provide additional protection in a declining rate environment.

Economic Return: AGNC generated an economic return on tangible common equity of 10.6% for the third quarter of 2025, comprised of $0.36 in dividends declared and a $0.47 increase in tangible net book value per common share. For the first three quarters of 2025, total comprehensive income was $0.80 per diluted common share, resulting in an economic return of 11.3%, comprised of $1.08 in dividends and a $0.13 decline in tangible net book value per common share.